October 2017 Unemployment Rate

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St. Croix County’s October Unemployment Rate at 2.5%

On November 22nd, the Wisconsin Department of Workforce Development (DWD) announced the preliminary October 2017 unemployment rates for Wisconsin’s 72 counties and the 32 cities with populations greater than 25,000 residents. St. Croix County’s rate was estimated at 2.5%. For comparison, St. Croix’s final rate in September was 2.6% and August’s final rate was 2.9%. One year ago, the county’s unemployment rate was estimated at 3.4%.

DWD said preliminary unemployment rates for October decreased in all 72 counties when compared to October 2016 and decreased or remained the same in 69 of the 72 counties when compared to September 2017. The current rates ranged from 2.1% in Lafayette to 4.8% in Menominee.

The October 2017 preliminary unemployment rates decreased in all of Wisconsin’s 32 municipalities with population bases of least 25,000 residents when compared to October 2016 and decreased or remained the same in all 32 when compared to September 2017. October’s rates ranged from 2.1% in Madison to 4.3% in Racine.

Lafayette County had the lowest rate in October at 2.1% followed by Dane, Green, and Iowa at 2.2% and Clark at 2.3%. Menominee County had the highest rate in October at 4.8%, followed by Iron (4.4%), Forest (4.1%), Adams (3.9%), and Marinette (3.7%).

St. Croix, Pierce, Polk, and Dunn counties comprise Wisconsin’s Greater St. Croix Valley. In addition to St. Croix referenced above, the preliminary rate for October 2017 in Dunn was estimated at 2.5%, followed by 2.6% in both Pierce and Polk. The current rates in all four counties are lower compared to last month (September 2017) and one year ago (October 2016).

St. Croix and Pierce counties are included in the 16-county Minneapolis-St. Paul-Bloomington MN-WI metro area. The October 2017 unemployment rate for the Twin Cities was estimated at 2.3%, which is lower than September’s final rate of 2.8% and August’s final rate of 3.4%. The unemployment rate in the Twin Cities was 3.3% in October 2016.

The preliminary (seasonally adjusted) unemployment rate for Wisconsin in October was estimated at 3.4%, which is lower than September’s final rate of 3.5%, but the same August’s final rate (3.4%). One year ago, the state’s seasonally adjusted rate was 4.2%.

The preliminary (seasonally adjusted) unemployment rate in Minnesota in October 2017 was estimated at 3.3%, which is lower than September’s final rate of 3.7% and August’s final rate of 3.8%. Minnesota’s seasonally adjusted rate one year ago was 4.0%.

The preliminary (seasonally adjusted) unemployment rate in the U.S. for October was estimated at 4.1%, which is lower than September’s final rate of 4.2% and August’s final rate of 4.4%. One year ago the U.S. rate (seasonally adjusted) was estimated at 4.8%.

Wisconsin’s preliminary (seasonally adjusted) labor force participation rate for October 2017 was estimated at 68.8%, which is the same as the final rate for both September and August. One year ago, Wisconsin’s labor force participation rate was 68.4%. The preliminary (seasonally adjusted) labor force participation rate for the U.S. in October was estimated at 62.7%, which is lower than September’s final rate of 63.1% and August’s final rate of 62.9%. One year ago, the labor force participation rate in the U.S. was 62.8%.

October’s estimates are preliminary and are subject to revision within the next few weeks.

October 2017 Unemployment Table
October 2017 Unemployment Comparison
October 2017 Participation Rate

Small Business Saturday

SCEDC BLOG

Small Biz Saturday

BY BILL RUBIN, EXECUTIVE DIRECTOR

small business saturdaySeeking year-end profitability, big box retailers and mega-malls needed a promotion to jumpstart holiday shopping immediately after Thanksgiving. Along came Black Friday, with overflowing carts at the registers, so-called door-buster specials, and occasional short fuses. Online retailers did the same for Cyber Monday, with or without compromising credit card security. Local businesses fought back with Small Business Saturday.

You may wish to consider joining the Shop Small movement along the Main Streets in the St. Croix Valley. Shopping Small is part of Small Business Saturday, designed to bring shoppers to local businesses on the Saturday after Thanksgiving.

Small Business Saturday (SBS) was first organized in 2010 and has gained momentum ever since. Even the U.S. Senate jumped in with a unanimous resolution in support of SBS. No Washington gridlock on this no-brainer. SBS attracted an estimated 95 million shoppers in 2015. Last year’s shopping impact reached $15.4 billion nationally, according to SBS organizers.

Why Shop Small? Retailers, galleries, restaurants, and pubs play major roles in each community. Without support, the alternatives are vacant storefronts and stagnant downtowns. And of course, Main Street businesses support residents and communities on many fronts, including identity, civic involvement, full- and part-time employment, and tax base.

Enjoy Thanksgiving. Hope for a place at the adult table. Try a new vegetable. Laugh at the worn-out jokes as if they’re told for the first time. Go easy on the dessert. Watch some football. Take a nap. It’s needed for Small Business Saturday on November 25th.

SBS Strong!

Military Veterans Are Strong Workforce Options

SCEDC BLOG

Military Veterans Are Strong Workforce Options

BY BILL RUBIN, EXECUTIVE DIRECTOR

Older Americans will likely recall when November 11 and Veterans Day were known as Armistice Day, so-named to mark the armistice treaty ending World War I on the eleventh hour of the eleventh day of the eleventh month back 1918 (wow, almost 100 years ago).

WWI veterans returned to their hometowns and found opportunity. Some returned to the farm. Some helped populate growing cities and were part of the era when industrialization ruled. Some furthered their education and had long careers in education, business, or government.

This scene was repeated in the mid-1940s when WWII veterans returned. Along came Korea, Vietnam, Persian Gulf, Saudi Arabia, Gulf War I & II, Afghanistan, Iraq, and ISIS-ISIL, etc.; and the scenes of returning veterans were repeated, all with differing sequels.

Veterans in St. Croix County reflect between 4.6 and 6.3 percent of the total population, maybe 5,400 individuals, according to the federal Department of Veterans Affairs. Across Wisconsin’s sprawling 7th Congressional District that includes St. Croix, the veteran population is estimated at around 58,000. Military service is not gender specific. About eight percent of Wisconsin’s veterans are women, approaching 29,000 strong.

As the workforce continues to shrink, employers would be wise to consider veterans as their first choice. Although the largest segment of the veteran population is 65-years or older, many are within their prime wage-earning years. Veterans have vast skill sets, including problem-solving, leadership, teamwork, integrity, and understanding of policies and procedures.

There are plenty of resources to connect veterans with business and industry and beyond, including eligibility for benefits, medical care, vocational rehab, and pensions. The Wisconsin Department of Veterans Affairs, U.S. Department of Veterans Affairs, and County Veterans Service Office are among these Go-To agencies.

Veterans owning their own business may wish to promote that fact by obtaining the Veterans Owned Business Certification from state’s Department of Veterans Affairs.

On 11 November, remember the living; honor the dead; thank a proud veteran. Hire them.